Chatham Lodging Trust (NYSE: CLDT), a hotel real estate
"This is Chatham’s first acquisition in
Located at 2223 Palomar Airport Road in Carlsbad, Calif., 35 miles north of downtown San Diego, the three-story Homewood Suites opened in 2008. The hotel features 145 suites with fully equipped kitchens and complimentary high speed Internet access. The hotel is convenient to the many leisure activities in the surrounding San Diego area, especially Legoland, as well as many commercial demand generators and the McClellan-Palomar Airport.
"Carlsbad, Calif., is considered the golf equipment capital of the United States and quite possibly the world," Fisher noted. "As the epicenter of the golf industry, more than 15 golf companies reside within a 50-mile stretch, including Acushnet, Callaway and TaylorMade."
Island Hospitality Management, a management company that is 90% owned by Fisher, will manage the hotel.
Chatham’s stock price closed at $18.22 on Tuesday, Nov. 3, down from $19.84 on April 21, the date of the IPO